Brokerages Set Exelixis, Inc. (NASDAQ:EXEL) Price Target at $46.16

Exelixis, Inc. (NASDAQ:EXEL) has received an average recommendation of “Hold” from the twenty-three brokerages that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation, ten have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $47.1111.

A number of analysts have recently issued reports on the stock. Wolfe Research initiated coverage on shares of Exelixis in a report on Tuesday, November 18th. They issued a “peer perform” rating on the stock. Royal Bank Of Canada raised their target price on shares of Exelixis from $45.00 to $46.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 11th. Wells Fargo & Company lifted their price target on shares of Exelixis from $30.00 to $35.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 11th. Wall Street Zen downgraded shares of Exelixis from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Finally, UBS Group set a $41.00 target price on Exelixis in a research report on Monday, January 5th.

Exelixis Trading Up 2.9%

EXEL stock opened at $43.92 on Monday. The stock has a market cap of $11.41 billion, a PE ratio of 15.86, a price-to-earnings-growth ratio of 0.99 and a beta of 0.42. The stock has a 50-day moving average price of $43.62 and a two-hundred day moving average price of $41.00. Exelixis has a 1 year low of $32.38 and a 1 year high of $49.62.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings data on Tuesday, February 10th. The biotechnology company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.20. Exelixis had a return on equity of 36.29% and a net margin of 33.73%.The company had revenue of $598.66 million during the quarter, compared to analysts’ expectations of $609.17 million. During the same period in the prior year, the firm earned $0.55 earnings per share. Exelixis’s revenue for the quarter was up 5.6% compared to the same quarter last year. On average, analysts forecast that Exelixis will post 2.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Exelixis

In related news, EVP Patrick J. Haley sold 34,187 shares of the firm’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $41.88, for a total value of $1,431,751.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders sold 72,230 shares of company stock worth $3,046,923. 2.85% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of EXEL. Richardson Financial Services Inc. raised its holdings in shares of Exelixis by 95.1% in the 3rd quarter. Richardson Financial Services Inc. now owns 599 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 292 shares during the period. Anchor Investment Management LLC boosted its stake in shares of Exelixis by 500.0% during the 3rd quarter. Anchor Investment Management LLC now owns 600 shares of the biotechnology company’s stock worth $25,000 after acquiring an additional 500 shares during the period. Root Financial Partners LLC bought a new stake in Exelixis in the 3rd quarter valued at $28,000. Acumen Wealth Advisors LLC bought a new stake in Exelixis in the 4th quarter valued at $29,000. Finally, Luminist Capital LLC lifted its holdings in Exelixis by 2,740.0% during the 2nd quarter. Luminist Capital LLC now owns 710 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 685 shares during the last quarter. Institutional investors own 85.27% of the company’s stock.

About Exelixis

Exelixis, Inc is a biotechnology company specializing in the discovery, development and commercialization of small molecule therapies primarily for the treatment of cancer. Building on a platform that leverages model organism genetics and high-throughput screening, the company focuses its research on kinase inhibitors that modulate critical signaling pathways involved in tumor growth and metastasis. Exelixis’s translational research approach aims to advance novel compounds from early-stage discovery through clinical development and regulatory approval.

The company’s most recognized products include CABOMETYX® (cabozantinib), approved for the treatment of advanced renal cell carcinoma and hepatocellular carcinoma, and COMETRIQ® (cabozantinib) for metastatic medullary thyroid cancer.